Tanzania: First United Takaful launches operations

Source: Middle East Insurance Review | Mar 2024

First United Takaful Insurance Company has started operations, launching Islamic insurance services in Tanzania. The operator is the second in the country to receive a licence for providing takaful services.

Zanzibar minister of state in the office of the president, finance and economy Saada Mkuya said the takaful company promotes the nation’s economy and financial inclusion, according to local media reports. She was speaking at the launch of First United Takaful and its shariah insurance services last February.

She lauded the Tanzania Insurance Regulatory Authority (TIRA) for allowing Islamic-based insurance services, which are crucial for both Muslim and non-Muslim customers.

Also officiating at the inauguration ceremony, deputy insurance commissioner Khadija Issa Said gave assurances that the TIRA collaborates closely with other stakeholders to create an enabling environment for takaful services. M

Comment | Print

Name*

Email*

Comment*

Code Verification*

Enter the code shown above in the box below.

Note that your comment may be edited or removed in the future, and that your comment may appear alongside the original article on websites other than this one.